Pedigree.... what are you really paying for?

Peaceman

I've seen some posts on "Pedigree's".... who here thinks they are worth more money, why?

paigowjohnny

They're worth more money to the collector who wants to say he owns a coin that someone else notable did...such as Eliasberg. I for one like Redfield dollars, and lord knows we who collect them pay a premium...but we're paying for the story and the history...that doesn't necessarily make them more valuable in the general marketplace.

Coins like everything else in a free market society are only worth what someone else will pay for them...and there will always be someone who will pay a premium for pedigreed coins of one name or another...just like there are folks who will pay $1500 for a monster toned common date Morgan....

lordmarcovan

My dog likes it, but I'm not sure if it's worth more. He's not exactly a picky eater. He'll eat anything but bananas. (Even tomatoes! And cat poop...)



(No, that isn't my dog with the Pedigree can.)

Peaceman

I guess you're right when you say that people are paying for history..... It sounds like the premium equates to a "conversational piece".... kind of like owning Elvis' car..... sure you own it, and it's just like all of the others of that year... but it's Elvis'...

Pistareen

I think provenance (pedigree is for dogs!) is an important aspect to ascertaining the real value of classic rarities. Most of us enjoy coins for their history, and provenance evokes a whole different kind of history -- the history of numismatics itself. A pioneer gold coin which was in Augustus Humbert's personal collection -- shouldn't that be worth more than one that suddenly appears on the marketplace, all other things being equal? Anyone can wonder wistfully about where a Chain cent was in George Washington's day, but how about the ones that we KNOW were in Joseph Finotti's collection in 1862, then in pioneering NYC numismatist Charles Bushnell's collection in 1882, then to George Earle, etc.? Shouldn't that additional knowledge be of value? There are many coins which can literally be traced back to the time of the Civil War in an unbroken chain of provenance -- in ancient coins and historical medals, some can be traced back for centuries!

Would you pay more for the pride of ownership to say you own a Red Book plate coin? How about a Penny Whimsy plate coin? Or one plated in Crosby way back in 1875?

A 1971 Proof set from Eliasberg is kind of like owning Elvis' car, I agree. But is it worth a few bucks more than one purchased from the Mint by Ed Schlebovitz of Paducah and handed down to his son Sid? I think so -- unless you know Sid.

The added premium of provenance is twofold: more history with the coin than a non-provenanced piece, and you can delight in the fact that savvy numismatists of long ago thought enough of it to keep it in their collection as their favorite in all their years of experience. Sort of like a thumbs up from a dead guy.

JK

mgoodm3

Extra printing on the slab. some will pay good money for the printing and the history it implies.

AmericanSilverEagleCoins

Personally I don't care about those pedigrees. Most people don't know who were Eliasburg or Redfield and could care less I had a coin owned by them. However if I had coins from someone's collection who was more universally famous, say Howard Hughes or Clarke Gable, there would be more interest among my spectators, but still little interest from me.

tradedollarnut

On some coins, the provenance is quite valuable indeed. Take 1836 Gobrecht dollars for example: How about Christian Gobrecht's personal specimen? Or Andrew Jackson's? Neither is extremely high grade, but both sold for 100% more than an equal coin of less famous history! The 1838 I just attributed to the Amon Carter collection is now MUCH more valuable to me, simply because I am a big admirer of that particular collection and have 3 fantastic trade dollars from the same.

pmh1nic

"Most people don't know who were Eliasburg or Redfield"

That is a shame. Knowing a little about numismatic history and the personalities that played a major role in it is an interesting facet of the hobby IMHO.

AmericanSilverEagleCoins

<< <i>"Most people don't know who were Eliasburg or Redfield"

That is a shame. Knowing a little about numismatic history and the personalities that played a major role in it is an interesting facet of the hobby IMHO. >>



I meant for freinds and visitors who are curious to see my collection but are not collectors themsleves.

Bulldog

I have mixed emotions about all this.

I guess if I had the full "Red Skeleton" collection, with his name and certs for the coins,I would be one happy fellow.

Paying premiums like this for coins, just make others rich. The ones that have created the hype.

Can you imagine honest to goodness "Elvis" Coins....I wouldn't want any!

Bulldog

pmh1nic

"I meant for freinds and visitors who are curious to see my collection but are not collectors themsleves."

I get a sense of pleaure and excitment in educating and teaching others about numismatic history and showing them how it parallels in some respects U.S. history. Some of the joy of collecting (IMHO) is having a tangible connection with the past and the people of the past. I find the stories of how the great collections were compiled and the difficult there was in putting them together interesting but I realize it's not everyones cup of tea.

In the same way some would pay a significant premium for an MS-69 over a 68 others would pay a premium for a coin that has a connection with one of the historic collections like Eliasberg, Norweb, Garrett, Bass, etc. To each his own.

ohbaby

Provenance has given way to "pedigree" where just about anyone can slap a set together and get it pedigreed. I have a few such coins pedigreed to people I have never heard of, and I have an Eliasburg [by accident] and a Bass [a gift], neither which is an exceptional coin.

Personally I would never pay extra for a "famous" coin.

keets

it's all about ego.

al h.

fountainheadgold

Hey Buy the coin not the plastic or the paper